The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
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OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Microsoft Corp COM 594918104   83,865,488 246,272 SH   SOLE   96,885 0 149,387
Mastercard Incorporated CL A 57636Q104   69,839,956 177,574 SH   SOLE   68,896 0 108,678
Amazon Com Inc COM 023135106   68,531,958 525,713 SH   SOLE   228,788 0 296,925
Moodys Corp COM 615369105   65,240,316 187,623 SH   SOLE   74,848 0 112,775
Alphabet Inc CAP STK CL C 02079K107   56,429,602 466,476 SH   SOLE   188,297 0 278,179
Copart Inc COM 217204106   54,956,123 602,523 SH   SOLE   241,390 0 361,133
AON Plc SHS CL A G0403H108   49,041,528 142,067 SH   SOLE   61,133 0 80,934
Verisk Analytics Inc COM 92345Y106   45,666,777 202,039 SH   SOLE   85,668 0 116,371
MSCI Inc. COM 55354G100   44,929,572 95,739 SH   SOLE   41,877 0 53,862
Waste Mgmt Inc Del COM 94106L109   42,324,934 244,060 SH   SOLE   103,656 0 140,404
Marsh & McLennan Cos Inc COM 571748102   41,063,238 218,329 SH   SOLE   98,033 0 120,296
CoStar Group Inc COM 22160N109   40,895,322 459,498 SH   SOLE   203,109 0 256,389
Nike Inc CL B 654106103   34,144,993 309,368 SH   SOLE   125,059 0 184,309
Apple Inc COM 037833100   33,014,751 170,205 SH   SOLE   65,807 0 104,398
CBRE Group Inc CL A 12504L109   32,547,034 403,259 SH   SOLE   165,570 0 237,689
S&P Global Inc COM 78409V104   31,873,252 79,506 SH   SOLE   34,240 0 45,266
Adobe Systems Incorporated COM 00724F101   31,777,993 64,987 SH   SOLE   29,945 0 35,042
Lauder Estee Cos Inc CL A 518439104   31,163,534 158,690 SH   SOLE   66,449 0 92,241
Intuit COM 461202103   29,067,116 63,439 SH   SOLE   26,583 0 36,856
Berkshire Hathaway Inc Del CL B NEW 084670702   27,978,709 82,049 SH   SOLE   0 0 82,049
Progressive Corp COM 743315103   24,656,926 186,273 SH   SOLE   74,363 0 111,910
Republic Svcs Inc COM 760759100   22,188,666 144,863 SH   SOLE   50,836 0 94,027
Pepsico Inc COM 713448108   20,194,844 109,032 SH   SOLE   35,114 0 73,918
Procter and Gamble Co COM 742718109   17,939,929 118,228 SH   SOLE   42,509 0 75,719
Colgate Palmolive Co COM 194162103   15,971,167 207,310 SH   SOLE   82,613 0 124,697
Canadian Pacific Kansas City COM 13646K108   15,941,494 197,369 SH   SOLE   63,824 0 133,545
Canadian Natl Ry Co COM 136375102   15,858,475 130,986 SH   SOLE   42,592 0 88,394
Unilever PLC SPON ADR NEW 904767704   15,250,123 292,540 SH   SOLE   127,082 0 165,458
Visa Inc COM CL A 92826C839   11,679,678 49,182 SH   SOLE   18,925 0 30,257
Ferrari N V COM N3167Y103   11,669,185 35,882 SH   SOLE   22,928 0 12,954
Cme Group Inc COM 12572Q105   11,297,571 60,972 SH   SOLE   27,389 0 33,583
Schwab Charles Corp COM 808513105   7,987,942 140,931 SH   SOLE   52,639 0 88,292
Coca Cola Co COM 191216100   5,328,592 88,485 SH   SOLE   0 0 88,485
Berkshire Hathaway Inc Del CL A 084670108   3,624,670 7 SH   SOLE   0 0 7
Equifax Inc COM 294429105   2,588,300 11,000 SH   SOLE   0 0 11,000
Stryker Corporation COM 863667101   1,828,709 5,994 SH   SOLE   0 0 5,994
Johnson & Johnson COM 478160104   1,318,367 7,965 SH   SOLE   0 0 7,965
Becton Dickinson & Co COM 075887109   1,089,305 4,126 SH   SOLE   0 0 4,126
Fair Isaac Corp COM 303250104   622,282 769 SH   SOLE   0 0 769
Globe Life Inc COM 37959E102   246,645 2,250 SH   SOLE   0 0 2,250